0437 GMT - NIO might not break even before 2027, Bernstein analysts say in a note after the Chinese automaker delivered another quarter of weaker-than-expected results. The company's 1Q gross margin was 7.6%, which Bernstein called disappointing. Its vehicle margin deteriorated to 10.2% from 13.1% in the previous quarter due to operating deleveraging resulting from lower production volume, the analysts add. NIO's management still thinks it can break even in 4Q this year, but Bernstein holds a more conservative view given the intensifying competition in the SUV market. It cuts its ADR target price to $4.00 from $4.50. U.S.-listed NIO last closed at $3.53. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
June 04, 2025 00:37 ET (04:37 GMT)
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